How much noise is there around the budget everywhere!! Don't worry - we've got you covered. You don't need to understand every announcement. Just find the bits that apply to you. Limited Company business owners: The important changes Minimum Wage increases From April 2027 If you employ staff, you'll need to factor the new minimum wage rates into your payroll costs. Age Current hourly rate New hourly rate 21 and over £12.71 £13.21 18–20 £10.85 £11.27 Both represent an increase of...

How much noise is there around the budget everywhere!! Don't worry - we've got you covered. You don't need to understand every announcement. Just find the bits that apply to you. Self-employed business owners: The important changes The tax-free trading allowance is increasing to £3,000 When? 6 April 2027 The trading allowance is increasing from £1,000 to £3,000. In simple terms: If your annual self-employment income is no more than £3,000, you generally won't need to declare it to HMRC...

What has changed? If you use a car or van for work, the mileage rate you can claim tax relief on has increased for the first 10,000 miles travelled in a tax year - rising to 55p per mile from 45p. The change affects employees and directors travelling on business in a private vehicle, and also sole traders and partners travelling on business in their own vehicle. The rate change will not affect miles travelled on a motorcycle or bicycle. The rate for miles travelled above 10,000 will also...